A major political row erupted with former Labour leader Ed Miliband instantly wading in, calling on Prime Minister Theresa May to refer the massive bid to Ofcom and the Competition and Markets Authority (CMA).

FRANKFURT/LONDON, Dec 9 (Reuters) - The European Central Bank hopes its decision to confront struggling Italian bank Monte dei Paschi at last will draw a line under a multi-year crisis that has risked tarnishing its reputation as a credible supervisor.

THE amount banks will have to pay in compensation for payment protection insurance miss-selling is likely to rise again after the Financial Conduct Authority put off making an announcement about the final deadline date for claims.